The Georgia Cotton Commission (GCC) reminds producers of several deadlines for programs that are coming up in March, says executive director Taylor Sills.
“Right now the deadline for the QLA, Quality Loss Adjustment program for the 2018 and 2019 crops is set for March 5,” Sills said. “We also want to remind people that their program election for ARC and PLC is March 15. I would recommend the grower have as much time to make these decisions as possible and not to go into it at the last minute; go in and make these important program elections.”
According to the USDA, the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs were authorized by the 2014 and 2018 Farm Bills. ARC provides income support tied to historical base acres of covered commodities, like cotton. Payments are issued when the actual county crop revenue of the covered commodity is less than the guarantee for the covered commodity.
PLC payments are issued when the effective price of a covered commodity is less than the respective reference price for that commodity. The effective price equals the higher of the market year average price or the national average loan rate for the covered commodity.
According to a USDA Farm Service Agency press release, more than 1.7 million contracts are anticipated by the Agency. Producers who do not enroll by March 15 will not be enrolled for either program for the 2021 crop year and will be ineligible to receive a payment.
The Quality Loss Adjustment (QLA) Program provides financial assistance to crop producers who experienced quality losses caused by qualifying disaster events in 2018 or 2019. Hurricane Michael in 2018 is one disaster event that Georgia cotton producers experienced.
To apply, producers must submit a completed program application along with supporting documentation.